5 things to watch on the ASX 200 on Thursday

Here’s what to watch on the ASX 200 on Thursday…

| More on:
Business woman watching stocks and trends while thinking

Image Source: Getty Images

On Wednesday the S&P/ASX 200 Index (ASX: XJO) was a strong performer again and continued to charge higher. The benchmark index rose 1.25% to 7,405.4 points.

Will the market be able to build on this on Thursday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to give back some of its recent gains on Thursday. According to the latest SPI futures, the ASX 200 is expected to open the day 40 points or 0.55% lower this morning. This follows a mixed night on Wall Street, which in late trade sees the Dow Jones down 0.1%, the S&P 500 up 0.1%, and the Nasdaq up 0.4%.

Oil prices rise

Energy shares including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent day after oil prices edged higher overnight. According to Bloomberg, the WTI crude oil price is up 0.7% to US$72.54 a barrel and the Brent crude oil price is up 0.7% to US$75.97 a barrel. Traders continue to buy oil amid easing concerns over the Omicron threat.

Santos to sell Barossa stake

The Santos share price will also be on watch today after announcing an agreement to sell a 12.5% interest in the Barossa project to JERA for a consideration of approximately US$300 million. This will reduce Santos’ stake in the project to 50%. Barossa is one of the lowest cost, new LNG supply projects in the world.

Gold price edges higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Regis Resources Limited (ASX: RRL) could have a decent day after the gold price edged higher. According to CNBC, the spot gold price is up 0.1% to US$1,786.5 an ounce. The gold price rose after the US dollar softened overnight.

Webjet rated a buy

The Webjet Limited (ASX: WEB) share price remains in the buy zone despite the emergence of the Omicron variant according to Goldman Sachs. This morning the broker retained its buy rating, albeit with a trimmed price target of $6.90. It said: “We continue to see a long term growth story in this business and view WEB as net beneficiaries of the post COVID recovery.”

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Top 10 - asx shares today
Share Market News

Here are the top 10 ASX shares today

Today, the S&P/ASX 200 Index (ASX: XJO) fought back against the selling pressure throughout the day to finish in the green. …

Read more »

The word inflation written with a ticking time bomb.
Share Market News

Why is it when Jerome Powell sneezes, the ASX 200 catches a cold?

Key points The ASX 200 took a hit following comments from the United States Federal Reserve chair Jerome Powell Expectations …

Read more »

blue arrows representing a rising share price ASX 200
Share Market News

These 3 ASX 200 shares are topping the volume charts this Friday

Finally, a day of green for ASX shares! The S&P/ASX 200 Index (ASX: XJO) is bouncing back strongly today, after a …

Read more »

Young boy wearing suit and glasses adds up on calculator with coins on table
Share Market News

This world-famous fund manager is ‘buying the dip’. Here’s why

Key points Bill Ackman is one of the most famous fund managers in the world He runs Pershing Square Capital …

Read more »

Two male ASX 200 analysts stand in an office looking at various computer screens showing share prices
Share Market News

ASX 200 (ASX:XJO) midday update: ResMed and PointsBet disappoint

At lunch on Friday, the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a much-needed positive …

Read more »

A man activates an arrow shooting up into a cloud sign on his phone, indicating share price movement in ASX tech shares
Share Market News

Is the Betashares Nasdaq 100 ETF (ASX:NDQ) an opportunity in this market correction?

Could the Betashares Nasdaq 100 ETF (ASX: NDQ) be a good opportunity during this correction for both the global share …

Read more »

A woman shouts through a megaphone.
Share Market News

2 ASX growth shares to buy in February with 40% upside

If you’re looking to make some additions to your portfolio in February, then the two ASX shares listed below could …

Read more »

Business woman watching stocks and trends while thinking
Share Market News

5 things to watch on the ASX 200 on Friday

On Thursday, the S&P/ASX 200 Index (ASX: XJO) fought hard and was able to record a small gain. The benchmark index rose …

Read more »